HÀ NỘI — Deputy Prime Minister Vương Đình Huệ has asked ministries to supervise operations of Việt Nam National Coal and Mineral Group (Vinacomin) after its poor production and business performance in 2015-16, according to Government portal chinhphu.vn. Huệ has assigned the ministries of industry and trade, natural resources and environment and finance to strengthen supervision and tightly monitor the operations of Vinacomin, besides addressing its problems and petitions. Vinacomin has been asked to complete its reports on subsidiaries’ arrangements, business performance evaluation, investment mobilising activities, corporate governance and restructuring orientation and submit it to the industry and trade ministry. Vinacomin’s revenue in 2015 decreased by around VNĐ2 trillion (US$88 million) compared to 2014, the finance ministry had earlier reported. Its pre-tax and after-tax profit decreased by 70.2 per cent and 80 per cent to around VNĐ840 billion and VNĐ430 billion, respectively.

Source: Viet Nam News March 28, 2017 01:01 UTC